Global grain prices on September 7, 2023: Corn fell to near record levels

Corn futures in Chicago fell on Thursday (September 7), trading near a three-year low as record output in top exporter Brazil and supplies from the early harvest in the United States put pressure. force on the market. Soybean and wheat prices also fell, giving back some of the gains achieved on Wednesday (September 6). Ole Houe, director of advisory services at agricultural broker Australia, said large immediate corn supplies could put pressure on the market. There is an excess supply of wheat for animal feed on the market. The most active corn price on the Chicago Board of Trade fell 0.1% to 4.85-1/4 bushel - the lowest level since December 2020, reached last month. Prices have dropped nearly 30% this year. Soybeans fell 0.3% to 13.71-3/4 USD/bushel and wheat fell 0.3% to 6.07-1/4 bushel. Corn harvest in parts of the U.S. Midwest is starting earlier than usual after hot, dry weather accelerated the harvest, analysts said. Rapid termination has the potential to provide early ...